A YouTube executive is outlining how non-fungible tokens (NFTs) could be implemented at the video-sharing giant in the near future.
YouTube’s chief product officer Neal Mohan in a new blog post that the company believes Web3, blockchain technology and NFTs all have “incredible potential” to help creators build deeper relationships with their fans.
“Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audiences.”
Mohan emphasizes that there’s “a lot to consider” in terms of how to implement NFT and Web3 technology responsibly.
YouTube CEO Susan Wojcicki in a blog post in January that NFTs and decentralized autonomous organizations (DAOs) were areas of strong interest to the flagship video-sharing website.
“We’re looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube.
The past year in the world of crypto, non-fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.
We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”
